Question

P14.2. Prepare
reoruary, payment for which is made during the same month. Prepare a cash budget for the
Il purchased a machine for 7 12,000 during
six months ended on 30.6.14.
Answer: Cash balance on 30.6.14 is 74.000,7
nare monthly cash budget for six months beginning April 2014 on the basis of the rolow
information:
Estimated monthly Sales are as follows:
Amount
January
Amount
31,00,000
February
380,000
1,20,000
March
1,00.000
1,40.000
August
80.000
April
80,000 September
May
60,000 October
1,00,000
(i) Wages and Salaries are estimated to be payable as follows:
June
July
60,000
used
June
April
9,000
10,000
May
8,000 August
9,000
10,000 September
9,000
(in) Of the sales, 80% are on credit and 20% for cash. 75% of the credit sales are collected
within one month and the balance in two months. There are no bad debt losses
iv) Purchases amount to 80% of sales and are made and paid for in the month preceding the
sales.
(v) The firm has 10% Debentures of 1,20,000. Interest on these has to be paid quarterly in
January, April and so on.
(vi) The firm is to make an advance payment of tax of 35,000 in July 2014
(vii) The firm had a cash balance of 7 20,000 on April 1, 2014, which is the minimum desired
level of cash balance. Any cash surplus/deficit above/below this level is made up by
temporary borrowings at the end of each month (interest on these to be ignored).
TAnswer: Cash balance at the end of each of 6 months would be * 20,000. The temporary
16,000 and 7 35,000 during April, May and August
investment made are 64,000,
respectively. The liquidation of investment (ie, sale) will be required during June, July and
2,000 and 9,000 respectively.]
September to the extent of 22,000
P143. Based on the following information prepare a cash budget for ABC Ltd.
Onarter 4th Quarter
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Answer 1

Answer:

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